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Vestar Capital Partners, a US-based buy-out firm has closed its latest $3.7bn (â¬3bn) private equity fund with a $150m commitment from Vestar's management. They will be the largest single investor in Vestar V, which has attracted about 130 institutions.

Financial News reported last November that Vestar Capital Partners would close the fund with total commitments of $3.7bn.

Fundraising for Vestar V began in April 2005 and was largely completed by August, when it held a first close at $3bn.

The fund will focus on US and European businesses ranging from $100m to $3bn in total enterprise value, and will have the flexibility to commit up to $750m to a single investment.

As with Vestar III and IV, Monument Group assisted Vestar with its latest fund.